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Truck Leasing Pros and Cons Ardmore OK

A truck lease offers cost advantages for personal use, as well as tax and accounting advantages for business owners. Learn the difference between personal and commercial truck leasing.

U-Haul Co
(580) 657-3986
102 Highway 70 W
Lone Grove, OK
 
Lahoma Boat & Mini Storage
(580) 223-3714
3336 South Commerce Street
Ardmore, OK
 
Ardmore Trailer & Storage Inc
(580) 226-7811
3801 Springdale Road
Ardmore, OK
 
Parkway Mini Storage
(580) 226-0425
1841 Sam Noble Parkway
Ardmore, OK
 
Hayes Mary
(580) 223-1797
802 Forest Lane
Ardmore, OK
 
Footlocker Mini-Storage
(580) 657-4090
Highway 70 West
Lone Grove, OK
 
A-1 Mini Storage & Boat Storage
(580) 226-2527
1324 South Commerce Street
Ardmore, OK
 
U-Haul Co
(580) 223-0561
2641 N Commerce St
Ardmore, OK
 
Collier Transfer & Storage
(580) 223-4435
1211 South Commerce Street
Ardmore, OK
 
Sharon Dobson Realty
(580) 224-9800
202 North Plainview Road
Ardmore, OK
 

Truck Leasing Pros and Cons

To lease a truck for personal use is no different than leasing a car or SUV. A lease offers lower monthly payments than buying with a loan, and may not require a down payment. There are also savings on sales tax in most states. Therefore, leasing may cost you less to get into a new truck, and can save you on monthly cost as well.

However, before making a decision about whether to lease or buy, understand that leasing is best for people who drive no more than about 15,000 miles per year, like to have a new truck every 3-4 years, take good care of their vehicles, don't care about building ownership equity, and have a stable lifestyle such that they won't need to end the lease early.

Ending a lease early can be very expensive. It's more than simply paying termination fees. It means paying the balance of the lease, considering the wholesale auction value of the truck. In most cases, ending a lease early is very impractical. Therefore, if you think you might not be able to complete a lease, then don't lease.

If you plan on using your truck for heavy duty or rough utility purposes, such that the body and bed might be badly damaged or scratched, you might not want to lease. The reason is you may have to pay for those damages at lease-end when you return your truck to the lease company. Any damages beyond "normal" wear and tear can result in charges to you. Of course, you could get the repairs done yourself prior to returning your leased truck. Or...

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